First Quarter 2007 Financial Highlights
• Sales USD 80.4 million, up by 34% from Q1 2006
• Organic sales growth 4%
• Pro forma sales growth 7%
• EBITDA USD 10.2 million, up by 19% from Q1 2006
• EBITDA margin 12.7%, declining from 14.3% in Q1 2006
• Net loss USD 2.7 million compared to a net profit of USD 0.6 million in Q1
2006
Jon Sigurdsson, President & CEO, comments:
“A major sales force restructuring program was initiated at Ossur Americas in
February. The program will take us through the final steps of fully integrating
the bracing and support companies we have acquired in North America into one
consolidated Ossur. This has caused a short term set-back in growth and
operating performance in the Americas but will return significant improvements
in the medium to long term. The months ahead will be challenging but we look
forward to harvesting the benefits of our efforts. In Europe, we are seeing a
gradual improvement. Results in the UK and Germany are particularly
satisfying.”
